Tracxn Research — Electric Vehicles Landscape, October 2016

Electric Vehicles Report – October 2016

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Contents

Topic Page No.

Scope of Report 04

Entrepreneur Activity 06

Investment Trend 08

Who is Investing 17

Exit Outlook - IPO, Acquisitions 21

Sub Sector Analysis 24

Interesting Companies 39

Useful Links 46

Company List 50

Team 215


Sector Overview

Scope of report

This report covers companies focusing on providing technology solutions for sustainable and energy-efficient transportation. Thesecompanies help in promotion and adoption of electric vehicles.

The report excludes traditional automakers such as Daimler, Toyota, Renault-Nissan, General Motors, BMW, Mitsubishi, Ford, Audi, etc.which also develop electric vehicles. The conglomerates like Panasonic, LG Chem and Samsung which are leading battery manufacturersare also excluded from the scope of the report.

The scope of this report includes equity as well as debt funding received by the companies.

Business Model Description

Automaker

Companies focused on developing and manufacturing electric vehicles. These include companies which developelectric cars, electric two-wheelers, electric commercial vehicles such as trucks and buses and electric personaltransport equipment such as electric longboards.

Components

Companies focused on developing components for the electric vehicles and working towards improvement ofthe technology powering these components. These include companies working on developing efficient electricand hybrid drive systems, batteries, motors and power electronics for electric vehicles.

Charging Solutions

Companies working towards developing charging infrastructure to support electric vehicles and assist in massadoption of the these vehicles. These companies focus on setting up the charging network and develop plug-inand wireless charging systems for residential, commercial and public applications.

Vehicle-as-a-service Companies providing electric vehicle sharing solutions resulting in increased adoption of electric vehicles.


Scope of Report

Entrepreneur Activity

Investment Trend

Who is Investing

Exit Outlook - IPO, Acquisitions

Sub Sector Analysis

Interesting Companies

Useful Links

Company List

Team

5


122

106102

114

138

116

19

0

32

64

96

128

160

2010 2011 2012 2013 2014 2015 2016

Nu

mb

er o

f C

om

pan

ies

6

YoY – Number of companies founded

Gogoro Ninebot Ather Energy NextEV WM Motor CoupVIA Motors

Torrot Electric StoreDot Evercar Niu Chehejia NextenergylabsVolta Charging


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

7


YoY – Number of Rounds and Total Funding

Note: The funding includes debt and post IPO rounds also.

$0.6B

$1.5B

$1.2B$1.3B

$1.0B

$0.3B

$0.8B

$1.1B

$3.7B

25

39

59

6561

69

83

102

63

0

24

48

72

96

120

0.0

0.8

1.6

2.4

3.2

4.0

2008 2009 2010 2011 2012 2013 2014 2015 2016

Nu

mb

er of R

ou

nd

sFu

nd

ing

Am

ou

nt

(in

Bill

ion

s)

Funding Amount Number of Rounds


YoY – Number of Rounds by Stage

12

2126

20 21

11

27

23

2744

56

39

11

10

5

11

7

6

0

18

36

54

72

90

2011 2012 2013 2014 2015 2016

Nu

mb

er o

f R

ou

nd

s

Seed Early Late


YoY – Funding by Stage

$13M $50M $13M $9M$68M

$6M

$435M

$124M$106M

$261M

$863M

$1.3B

$693M

$791M

$40M

$475M

$87M

$100M

0

320

640

960

1280

1600

2011 2012 2013 2014 2015 2016

Tota

l Fu

nd

ing

Am

ou

nt

(in

Mill

ion

s)

Seed Early Late


Average Ticket Size – Early Stage

$1.2M $2.1M $0.7M $0.7M$1.7M $0.8M

$10.7M

$4.8M $5.1M $6.5M

$33.1M

$90.6M

$38.1M

$15.3M

$7.5M$8.5M

$16.1M

$8.5M

0.0

20.0

40.0

60.0

80.0

100.0

2011 2012 2013 2014 2015 2016

Fun

din

g A

mo

un

t (i

n M

illio

ns)

Seed Series A Series B


Top investments in last one year

CompanyFunding Amount

Round Name

Date Investors

teslamotors.comTesla Motors

(Palo Alto, 2003)$1.5B Post IPO May-2016

wm-motor.comWM Motor

(Shanghai, 2015)$1B Series A Aug-2016

nextev.comNextEV

(Shanghai, 2014)$500M Series A Sep-2015 Sequoia Capital, Joy Capital

byd.comBYD

(Shenzhen, 1995)$450M Series G Jul-2016 Samsung

teslamotors.comTesla Motors

(Palo Alto, 2003)$300M Debt Sep-2016 Deutsche Bank

gogoro.comGogoro

(Taipei, 2011)$130M Series B Nov-2015 Panasonic, National Development Fund

chehejia.comChehejia

(Beijing, 2015)$120M Series A May-2016 Leo Group, Source Code Capital, FutureCap

proteanelectric.comProtean Electric

(Troy, 2009)$70M Series D Jul-2016

Oak Investment Partners, Zhejiang VIE Science & Technology, Tianjin THSG Corporation, GSR Ventures


Top investments in last one year

CompanyFunding Amount

Round Name

Date Investors

chargepoint.comChargePoint

(Campbell, 2007)$50M Series F May-2016 Braemar Energy Ventures, Constellation, Statoil, Envision Ventures, Linse Capital

phinergy.comPhinergy

(Lod, 2008)$50M Series A Jan-2016 Alcoa

xiaopeng.comXiaopeng

(Guangzhou, 2015)$42M Series A Mar-2016

torrot.comTorrot Electric

(Barcelona, 2011)$26M PE Feb-2016 Black Toro Capital

tsinova.comTSINOVA

(Beijing, 2014)$23M Series B Aug-2016 Tsinghua Holdings Capital

chargerlink.comChargerLink

(Shenzhen, 2014)$20M Series A Feb-2016

whill.usWhill

(San Francisco, 2012)$18M Series B May-2016 Eight Roads Ventures

addenergietechnologies.com

AddEnergie(Quebec City, 2009)

$13M Series A Apr-2016 CDPQ, Investissement Quebec


Funnel view of Sector

Percent of Previous

18%

64%

38%

74

34

60

156

244

1329

0 280 560 840 1120 1400

M&A & IPO

Late

Series B

Series A

Funded

Founded

Number of Companies

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Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

16


Most Active Investors in Sector

15

12

11

8

7 7

6 6

5 5

0

3

6

10

13

16

KPCB CaliforniaEnergy…

GSRVentures

Departmentof Energy (US)

Draper FisherJurvetson

Oak InvestmentPartners

SequoiaCapital

Vision RidgePartners

500 Startups AngelenoGroup

Tota

l Nu

mb

er o

f R

ou

nd

s

FiskerAutomotive

Tesla Motors Boston Power Tesla Motors Tesla Motors Boston Power TwoWheelsCar Proterra WhillCoda

Automotive

ProterraZero

MotorcyclesTwoWheelsCar XL Hybrids Think Global Protean Electric NextEV Scoot Networks

Volta Charging

Miles Electric Vehicles


Where are Top Investors investing


Top Investor by Stage of Entry


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

20


Top IPOs

IPO Date Company OverviewFunding Amount

Exch:Ticker

Jan-2016 energicasuperbike.com

Energica Motor Company

(Modena, 2010)

All-electric motorcycle manufacturerBIT: EMC

Dec-2013 aleees.comAleees

(Taoyuan City, 2005)

Lithium battery cathode materials and electric busesGSR Ventures, GRC SinoGreen Fund GTSM:5227

Jun-2013 eon-motors.comEon Motors

(Malijai, 2009)

Manufacturer of electric carsEDF Energies Nouvelles $1.8M EPA:MLEMG

Dec-2012 echoautomotive.com

Echo Automotive(Scottsdale, 2008)

Electric motors and batteries for plug-in hybrid vehicles$200K OTCMKTS:ECAU

May-2011 t3motion.comT3 Motion

(Costa Mesa, 2006)

Personal transportation provider for Police and SecurityOTCMKTS:TTTM

Jul-2010 teslamotors.comTesla Motors

(Palo Alto, 2003)

Electric Sport CarsDeutsche Bank, Draper Fisher Jurvetson, J.P. Morgan, Technology Partners, DFJ Growth, Compass Technology Partners, VantagePoint Capital Partners, Capricorn, Department of Energy (US), Westly Group, Aabar Investments, Panasonic, Daimler, SDL Ventures, Toyota Motor Corporation, Think Big Partners, Fjord Advisors, Valor Equity Partners, Juvo Capital, Darwin Ventures, Draper Associates, DBL Partners, California Air Resources Board, California Energy Commission

$2.06B NASDAQ:TSLA

May-2010 envisionsolar.comEnvision Solar

(San Diego, 2006)

Offers solar trees for parking lots and solar EV charging solutionsSilicon Valley Bank $4.6M OTCMKTS:EVSI


Major Acquisitions in last one year


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

23


October 2016Tracxn BlueBox : Electric Vehicles

1300+ companies in the sector, 208 funded in last 5 years, $4.89B invested in 2015/16 (YTD)


Top Business Models by Funding

$7.0B

$2.3B

$1.2B

$21M $6M0

1600

3200

4800

6400

8000

Automaker Components Charging Solutions Vehicle-as-a-service Conversion Kits

Tota

l Fu

nd

ing

Am

ou

nt

(in

Mill

ion

s)

# Cos. 778 198 245 49 21

Avg. Age May-07 Sep-04 Jan-09 Sep-11 -

Tesla Motors BYD Better Place Evercar Superpedestrian

Fisker Automotive Boston Power ChargePoint Scoot Networks Mellow Boards


Automaker – Business Model Description

26


Automaker – Entrepreneur Activity and Investment Trend


Automaker – Most Funded Companies


Components – Business Model Description

29


Components – Entrepreneur Activity and Investment Trend


Components – Most Funded Companies


Charging Solutions – Business Model Description

32


Charging Solutions – Entrepreneur Activity and Investment Trend


Charging Solutions – Most Funded Companies


Vehicle-as-a-service – Business Model Description

35

35


Vehicle-as-a-service – Entrepreneur Activity and Investment Trend


Vehicle-as-a-service – Most Funded Companies


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

38


Interesting Unfunded Companies

Company OverviewBusiness Model

eforce.chE-Force One

(2001, Fehraltorf)

All-electric commercial heavy-duty trucksAutomaker > Commercial Vehicles

tanktwo.comTanktwo

(2012, Vantaa)

Battery technology for electric vehiclesComponents > Batteries

nanoflowcell.comnanoFlowcell(2013, Vaduz)

Flow cell drive technology based electric vehiclesAutomaker > Cars

Curated list of companies by the sector analyst are defined as Interesting


Interesting Series A Companies


Interesting Series B Companies


Interesting Late Stage Companies


Top Funded Deadpooled Companies


Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

45


Useful Links

Slide Title Content Platform Link

List of All Companies in readable format Companies Link

Top investments Investment Trend Link

Top IPOs Exit Outlook - IPO, Acquisitions Link

Major Acquisitions Exit Outlook - IPO, Acquisitions Link

Automaker – Most Funded Companies Sub Sector Understand Link

Components – Most Funded companies Sub Sector Understand Link

Charging Solutions – Most Funded Companies Sub Sector Understand Link

Vehicle-as-a-service – Most Funded Companies Sub Sector Understand Link

Top Funded Deadpooled Companies Companies Link

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http://tracxn.com/theme/feedview/55d1ef4ee4b07eb8884acf58#%7Csort%3DfundingDate%7Corder%3DDEFAULT%7CfeedName%3DElectric%20Vehicles

http://tracxn.com/theme/feedview/55d1ef4ee4b07eb8884acf58#%7Csort%3DipoDate%7Corder%3DDEFAULT%7CfeedName%3DElectric%20Vehicles

http://tracxn.com/theme/feedview/55d1ef4ee4b07eb8884acf58#%7Csort%3DacquisitionDate%7Corder%3DDEFAULT%7CfeedName%3DElectric%20Vehicles

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http://tracxn.com/theme/feedview/55d1ef4ee4b07eb8884acf58#%7Csort%3DtotalMoneyRaised%7Corder%3DDEFAULT%7CfeedName%3DElectric%20Vehicles%7CbusinessModel%3D56b105bde4b052de5c2afda7%3AComponents

http://tracxn.com/theme/feedview/55d1ef4ee4b07eb8884acf58#%7Csort%3DtotalMoneyRaised%7Corder%3DDEFAULT%7CfeedName%3DElectric%20Vehicles%7CbusinessModel%3D560110d0e4b0cb07f3a31d79%3ACharging%20Solutions

http://tracxn.com/theme/feedview/55d1ef4ee4b07eb8884acf58#feedName%3DElectric%20Vehicles%7CbusinessModel%3D5602690de4b007d515637963%3AVehicle-as-a-service

http://tracxn.com/theme/feedview/55d1ef4ee4b07eb8884acf58#%7Csort%3DtotalMoneyRaised%7Corder%3DDEFAULT%7CfeedName%3DElectric%20Vehicles%7CcompanyType%3DDEADPOOLED

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Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

48


Electric Vehicles – Company List

Automaker Components Charging Solutions Vehicle-as-a-service Conversion Kits

304 FUNDED COMPANIES AND 1025 UNFUNDED COMPANIES

COVERS THE FOLLOWING SECTORS


Automaker (1/98)Company Overview Business Model Total Funding

TSINOVA(2014, Beijing)

Intelligent travel equipment and smart bicycle manufacturerIDG Capital Partners, China Growth Capital, Tsinghua Holdings Capital, Banyan Capital

Bicycles $44M

YunMake(2013, Hangzhou)

Smart bike makerQualcomm Ventures, ZhenFund, Shunwei, Foxconn Electronics, RiceBank, Ginkgo Valley Capital

Bicycles $1.6M

Gi FlyBike(2014, Cordoba)

Folding electric bicycleIncutex Bicycles $1.4M

NoteBike(2014, Hangzhou)

Electric bikes manufacturerGinkgo Valley Capital Bicycles $785k

EVELO(2011, New York City)

Electric bicycles developerSeedinvest Bicycles $750k

Faraday Bicycles(2012, San Francisco)

Electric bicycles makerMaiden Lane Bicycles $477k

Rad Power Bikes(2007, Seattle)

Electric bicycleBicycles $320k

CosWheel(2015, Shenzhen)

Developer of foldable electric bicycleBicycles $306k

Go to BM List >> Components



JIVR Bike(2012, London)

Sleek folding electric bikeBicycles $290k

Defiant Bicycles(2011, Minnesota)

Electric fat-tire bicyclesBicycles $200k

Electric Bike Technologies(2012, Philadelphia)

Development of electric bicycles and its componentsBicycles $73.4k

SPERO E-bike(2016, Coimbatore)

Electric bicycle developerBicycles

Sevenstar(2001, Wuxi)

Electric bicycle developerBicycles

Iuvo(2008, Taichung)

Pedelecs for urban commuteBicycles

Leisger(2003, Hannover)

Electric city bicyclesBicycles

OvO Bike(2009, Paris)

Electric bicyclesBicycles




Lohas Vehicle(1996, Jinhua)

Developer of electric bicyclesBicycles

Biktrix(2014, Saskatoon)

Mid-drive electric fat bikesBicycles

EcoBounce(2014, London)

Electric bicycles developerBicycles

Sondors eBike(2015, Malibu)

All-terrain electric bicyclesBicycles

Tucano Bikes(2004, Barcelona)

Lithium battery powered bicyclesBicycles

Freeel(2011, Barcelona)


UUALK(2012, Sabadell)

Developer of pedelecsBicycles

Goccia Bike(2010, Szentendre)




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Components (1/25)

Automaker << Go to BM List >> Charging Solutions


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Charging Solutions (1/31)

Components << Go to BM List >>Vehicle-as-a-

service




service


Vehicle-as-a-service (1/7)

Charging

Solutions << Go to BM List >> Conversion Kits



Charging



Conversion Kits (1/3)

Vehicle-as-a-

service<< Go to BM List



Vehicle-as-a-



Scope of Report


Investment Trend

Who is Investing


Sub Sector Analysis


Useful Links

Company List

Team

214


Team

215

Abhyudai Gupta

Lead Analyst, Energy

https://in.linkedin.com/in/abhyudai-gupta-66451814

https://twitter.com/abhyudaigupta

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Tracxn Research — Electric Vehicles Landscape, October 2016

Data & Analytics

Transcript of Tracxn Research — Electric Vehicles Landscape, October 2016